This gains it's light gathering abilities by simply having much larger "pixels" on the sensor, which can collect more photons. This is the same principal used on the highest end canon eos body, the 1DX, which has slightly lower resolution than the 5DmkIII in order to gain sensitivity.
> 7.5-times the surface area of the pixels on the CMOS sensor incorporated in Canon's top-of-the-line EOS-1D X and other digital SLR cameras
That puts a 35mm sensor right around HD video resolution, or in the 2-2.1MP range.
>The newly developed CMOS sensor features pixels measuring 19 microns square in size
So there is a possibility that the pixels are merged by the image processor after data is read off the sensor.
Cannibalizing? Not even close. Just the next generation of cameras! They did the same thing between the ... I think it was EOS 50D and EOS 60D